Every year, people in America use energy equal to over 30million
barrels of oil each day.
每年，美国人每天消耗的能源相当于3000多万桶石油。
The
barrel began to spring a leak.
那个木桶开始破裂泄漏了。
A
barrel of oil costs $86 currently.
现在的原油价格为一桶86美元。
Brazil's pre-salt oil projects are very cost-competitive and it is expected that such projects only need to reach $35 per barrel to achieve a break-even status on a project level, said BloombergNEF.
BloombergNEF表示，巴西的盐前石油项目具有很强的成本竞争力，预计这些项目只需要达到每桶35美元，就可以在项目层面实现盈亏平衡。
Historically one of the industry's lower-cost explorers and producers, the company's all-in production costs were $30.39 per barrel last year.
作为该行业历史上成本较低的勘探者和生产商之一，该公司去年的全部生产成本为每桶30.39美元。
"SAC Commercial Aircraft International Ltd, a subsidiary of Aviation Industry Corp of China, which is based in Shenyang, Liaoning province, serves as a major supplier, producing forward fuselages, rear barrel sections, hatch doors, tail cones and mid-fuselage of the A220.
“SAC商用飞机国际有限公司是中国航空工业集团公司的子公司，总部位于辽宁省沈阳市，是A220的主要供应商，生产前机身、后机筒、舱门、尾锥和中机身。
SACI has delivered 400 forward fuselages and rear barrel sections, 100 hatch doors, 100 tail cones and 100 mid-fuselage of the A220 to Airbus so far.
"For the first quarter of 2021, the company's average realized oil price increased by 20.5 percent year-on-year to $59.07 per barrel, which was in line with the changes of international oil prices, it said.
The unit oil and gas lifting cost of the company was $11.1 per barrel, representing a decrease of 8.3 percent year-on-year.
The company's average oil price decreased 19.3 percent year on year to $49.03 per barrel, following the trend of the global oil price while the average realized natural gas price was $6.38 per thousand cubic feet, down 7.3 percent, mainly due to the decrease of the gas price in North America.
Average realized oil price fell by 19.3 percent year-over-year to $49.03 per barrel during the first three months, which was in line with the trend of international oil prices, it said.
The per barrel operating cost went down by 1.6 percent year-on-year to $12.11.
The partners will create a new company, Huajin Aramco Petrochemical Co Ltd, as part of a project that will include a 300,000 barrel per day refinery with a 1.5 million metric tons per annum ethylene cracker and a 1.3 metric tons per annum PX unit.
Yang Jianhong, head of Beijing Shi Chuang Energy Consulting Co Ltd, said higher global oil prices drove the growth, as spot prices for Brent crude oil and US West Texas Intermediate crude oil rose 39.1 percent and 35.7 percent year-on-year, respectively, to hit $72.13 and $66.92 per barrel.
Operational costs for oil and gas production reduced to $11.47 per barrel, down 3 percent year-on-year, not including exchange rate impact.
Higher oil prices also contributed to the growth, with international oil prices surging despite fluctuations in the first six months, with the spot price of Brent crude oil surging 36.2 percent year-year-on to $70.55 per barrel.
"Its exploration and production EBIT may be positive in the second half of this year as oil prices could exceed the company's upstream break-even hurdle of $69-70 a barrel," she said.
He said that there are five more oil and gas blocks to be auctioned soon, pointing out that the average production of the six blocks is expected to reach 500,000 barrel per day (bpd) in the future.
As many as 413 companies participated in the call auction, with the transaction price coming to 440 yuan ($70) per barrel Monday morning.
Average price of crude oil sold by the company surged 20.4 percent in the third quarter to $50.87 per barrel, while price for natural gas sales rose 15.9 percent from a year earlier.
"One Arktek barrel can meet the needs of a village of 6,000 people for a year.
Brent oil, the global benchmark, averaged some $53 a barrel during the first half of 2017, up 29 percent year-on-year.
The oil price recovery has helped to boost profitability of upstream industries, said Oceana Zhou, a senior analyst at S&P Global Platts, adding that the ICE Brent crude price averaged at around $53 per barrel in the first half of this year, up 28 percent from the $41 per barrel average in the same period last year.
The building was designed with the shape of an ancient barrel, meant to reflect rich historical heritage and modern development ambitions of the east African country.
Experts from the Asset and Wealth Management Investment Strategy Group at Goldman Sachs, an investment bank, estimated that the price of a barrel of oil is likely to trade between $70 and $100 for most of 2024.
As for oil, volatility may be the keyword in 2024, said UBS experts, estimating oil prices may oscillate between $90 and $100 per barrel in the following 12 months.
Global economic outlookOil prices, which came close to the all-time high of $147 a barrel in March last year due to the conflict in Ukraine, have since unwound most of their 2022 gains.
Under the benchmark scenario, pork prices are set at 30 yuan per kg, oil prices at $110 per barrel and the annual growth rate of food prices at 4 percent.
Therefore, the optimistic forecast for oil prices is around $90 per barrel while the pessimistic prediction is $130 per barrel.
China will not raise the retail prices of gasoline and diesel within two months if international crude oil prices exceed $130 per barrel, the National Development and Reform Commission, the country's top economic regulator, said on Wednesday.
If the international oil price remains above $130 per barrel for more than two months, the government will clarify its policies and measures in advance.
It is also considering phased price subsidies for refiners when international oil prices exceed $130 per barrel, the price ceiling for refined oil products regulated by the government.
Brent crude futures reached $121.17 a barrel on Tuesday while US West Texas Intermediate crude settled at $118.93 a barrel.
Brent crude touched an intraday high of $121.95 per barrel this week while the US West Texas Intermediate crude futures rose to their highest level in three months briefly trading at $120.99 per barrel.
Jamie Dimon, JPMorgan's chief executive, warned last week that prices could reach $150 or $175 a barrel this year.
Analysts at Goldman Sachs are also forecasting oil could average more than $140 a barrel in the third quarter.
Jeremy Weir, chief executive of the commodity trader Trafigura, said it was highly probable that oil prices could rise to $150 a barrel or higher in the coming months, with supply chains strained as Russia tries to redirect its oil exports away from Europe.
NYMEX crude oil was $95.72 per barrel on Feb 28, just as the hostilities began.
On March 7, the price rose to $130.50 per barrel, which is the highest level since August 2008.
Data in the public domain showed that the average price of Brent crude oil was $97.9 per barrel during the first quarter of the year, up almost 23 percent quarter-on-quarter and nearly 60 percent year-on-year.
It touched a 10-year high of $127.98 per barrel in early March.
Experts from Bank of America estimated that Brent crude will surge to $130 per barrel in the second quarter, while the forecast from Goldman Sachs is $120 per barrel.
Oil prices finished higher on Thursday with both the US crude benchmark and Brent exceeding $100 a barrel in intraday trading.
While crude oil prices might reach $100 a barrel this year, the uptrend is expected to gradually ease in the long term with capacity recovery, continuous development of new energy and the recovery of US shale oil production, analysts said on Tuesday.
Brent crude oil reached $96.78 per barrel on Monday, the highest price level since 2014.
Major Wall Street banks, including Bank of America, Goldman Sachs, JPMorgan and Morgan Stanley, expect Brent crude prices to touch, or even surpass, $100 a barrel as soon as this year.
Goldman Sachs said it expects Brent crude, the world benchmark, will hit $100 a barrel in the third quarter of this year, up from the bank's prior call for $80.
Goldman Sachs foresees two things: Brent reaching $105 a barrel next year, up from a previous forecast of $85;and diminished appetite to invest in oil due to the industry transition to clean and green energy.
com as saying that the 100 million barrel number is probably going to be exceeded this year and demand is going to surge in the second half.
"To see oil prices going above $80(a barrel) with a supply shortage, and people can freeze all they want, these guys aren't about to dip into much of their spare supply, if there is much.
"A year ago, the price of US benchmark West Texas Intermediate crude was $39.73 a barrel, according to the US Energy Information Administration.
On Tuesday, WTI closed at $84.44 a barrel on the New York Mercantile Exchange.
The oil price, for example, has already seen a correction when it touched $65 per barrel.
On Monday morning, the price of West Texas Intermediate crude, the US benchmark, was up $2.70 a barrel at $85.50 after the attacks.
Brent crude, the international benchmark, climbed $2.50 per barrel to $87.05 as a result.
This area has yielded China's first barrel of "zero-carbon crude oil".
However, the recent announcements from OPEC+ have not provided sustained support for oil prices, with the West Texas Intermediate (WTI) crude dipping below $70 a barrel amid lingering concerns over the economic outlook and demand.
Crude prices have fallen to roughly $80 a barrel from more than $120 in early June amid growing fears about a possible global economic recession.
"Since shipbuilders resumed production in Shanghai in late May and companies in other coastal provinces kept receiving orders to build new vessels, we are currently running at full capacity to produce 20,000 barrels of marine paint on a daily basis, with each barrel containing 15 liters of paint," said Xu Jiwei, director of the operation unit of Jotun COSCO Marine Coatings (Qingdao) Co Ltd, a joint venture between a unit of State-owned China COSCO Shipping Corp Ltd and Norway's Jotun A/S.
The Brent crude futures contract reached $118.98 a barrel on Friday, while the US West Texas Intermediate crude settled at $116.79 a barrel.
The annual average realized oil price was $67.89 per barrel last year, up 65.7 percent year-on-year.
Domestic fuel prices will remain unchanged or barely changed when the price of crude oil on global markets hits $130 a barrel, the commission said.
As a result, oil prices jumped to record highs with WTI crude oil popping as much as 7 percent to trade above $128 per barrel on Tuesday and Brent crude oil, the international benchmark, jumping 7.7 percent to $132.75.
Both Brent and West Texas Intermediate prices hit their highest levels since July 2008, with Brent for April delivery touching $139.13 a barrel and WTI $130.50 a barrel.
The West Texas Intermediate for March delivery rose by $2.36, or 2.5 percent, to settle at $95.46 a barrel on the New York Mercantile Exchange on Monday.
Brent crude for April delivery increased by $2.04, or 2.2 percent, to close at $96.48 a barrel on the London ICE Futures Exchange.
US West Texas Intermediate crude fell from $66.48 a barrel to $62.32 a barrel in this period.
Brent crude declined from $69.04 a barrel to $65.18 a barrel in the same period.
The most active crude oil contract for November 2020 delivery was down 14.2 yuan ($2.09) to close at 264.8 yuan a barrel.
The West Texas Intermediate for October delivery rose 81 cents to settle at $40.97 a barrel on the New York Mercantile Exchange, while Brent crude for November delivery climbed $1.08 to $43.30 a barrel on the London ICE Futures Exchange.
The West Texas Intermediate for October delivery rose $1.88, or 4.9 percent, to settle at $40.16 a barrel on the New York Mercantile Exchange, while Brent crude for November delivery climbed $1.69, or 4.2 percent, to $42.22 a barrel on the London ICE Futures Exchange.
The West Texas Intermediate for October delivery climbed $1.02 to settle at $38.28 a barrel on the New York Mercantile Exchange, while Brent crude for November delivery advanced 92 cents to $40.53 a barrel on the London ICE Futures Exchange.
The West Texas Intermediate (WTI) for October delivery lost 7 cents to settle at $37.26 a barrel on the New York Mercantile Exchange, while Brent crude for November delivery slid 22 cents to $39.61 a barrel on the London ICE Futures Exchange.
Under the current pricing mechanism, China will adjust domestic prices of refined oil products when international crude prices translate into a change of more than 50 yuan per tonne for gasoline and diesel over a period of 10 working days, but will not do so if the international prices go below the floor of $40 or above the ceiling of $130 a barrel.
Under the current pricing mechanism, China will adjust domestic prices of refined oil products when international crude prices translate into a change of more than 50 yuan per ton for gasoline and diesel over a period of 10 working days, but will not do so if the international prices go below the floor of $40 or above the ceiling of $130 a barrel.
As the global oil price has rebounded to $40 per barrel recently and is expected to stay there, gas stations and refiners in China will benefit from the oil price rebound, said experts.
Oil prices are set to recover and possibly inch back to $50 per barrel.
Partly due to the coronavirus pandemic, international crude prices slumped in the past few months, with the benchmark Brent crude nosediving from about $68 per barrel in early January to around $25 at present.
Some refineries in East China's Shandong province have processed oil that was purchased earlier at $20 per barrel.
West Texas Intermediate for May delivery shed $55.9 to settle at-$37.63 a barrel on the New York Mercantile Exchange on Monday, a decline of nearly 306 percent.
The international benchmark Brent crude futures contract for June was down 15 percent during early morning trading on Tuesday, a record low since April 2002, while WTI crude futures for June delivery dropped more than 7 percent during morning trading on Tuesday, falling below $19 a barrel.
The most active crude oil contract for June delivery was down 11.5 yuan ($1.63) to close at 229.2 yuan a barrel.
- US crude oil plunged nearly 20 percent to below $15 per barrel on Monday, hitting the lowest level in more than a decade as the COVID-19 pandemic cast a shadow over the global market.
Though crude prices have crashed by more than 30 percent in recent months, every dollar per barrel drop in crude prices reduces China's oil import bill, he added.
According to the country's current pricing mechanism for refined oil products which was first introduced in 2016, petrol and diesel prices would not be adjusted as long as global crude oil goes below $40 a barrel or above $130 a barrel.
Under the pricing mechanism, when the global crude oil price falls below $40 per barrel, the incremental profit margin will be directed to a special risk reserve, which will allocate funds to oil product upgrades, the security of the oil supply, energy conservation and emission reduction.
Though crude prices have crashed by more than 30 percent, every dollar per barrel drop in crude prices reduces China's oil import bill as the market will be flooded with cheap oil, he said.
Brent crude, the global benchmark, rose about 9 percent to $37.35 a barrel, but that's well below the $52-a barrel level it traded at earlier this month.
Brent crude, a worldwide benchmark, fell $9.57, or 21.07 percent, to $35.73 a barrel.
The demand for FPSO projects is on an upturn given the fact that the oil price hovered around $62.8 per barrel in 2019, which is 11.5 percent below the 2018 average of $71 per barrel.
International oil prices increased during the period, with the benchmark Brent crude selling for $64.5 per barrel on Nov 29, up $5.2 from Oct 31.
Brent Crude on Monday opened at $67.8 per barrel on the oil futures market, an over 10 percent surge from Sunday's close of $60.22.
The average fuel cost in 2019 is expected to be $70 per barrel, it said, citing the Brent Crude price.
That is 27.5 percent higher than the $54.9 per barrel Brent in 2017.
The buying in February pushed up spot premiums for the independent refiners' favorite crude grades from Russia, Oman, Africa, and Europe by between 50 US cents and $1 more a barrel than quotes from early January, according to Reuters' trade sources.
New tax rules implemented last year, including a $38 per barrel gasoline consumption tax and a $29 per barrel tax on diesel, have seen the fortunes of the country's some 40 independent refineries dwindle after several years of bumper profits since they were first allowed to process imported crude oil in 2015.
"Brent crude is expected to average just over $69 a barrel in 2019, lower than a November forecast of about $77, according to a poll of 13 investment banks by the Wall Street Journal.
The West Texas Intermediate is projected to average just over $63 a barrel, down from the November forecast of $70.
The agency expects that the benchmark Singapore complex refining margin will stay benign, at $5.5 per barrel over the next 12 months, largely in line with the year-to-date average.
The West Texas Intermediate (WTI) for December delivery lost $2.93 to settle at 66.43 dollars a barrel on the New York Mercantile Exchange.
The benchmark Brent crude averaged 36.3 percent higher in the first six months at $70.58 a barrel.
The West Texas Intermediate averaged $65.52 a barrel, a 31.2 percent increase year-on-year.
For the week ending Aug. 10, WTI for September delivery declined by 1.02 dollars to settle at 67.63 dollars a barrel on the New York Mercantile Exchange, reporting a loss of 1.49 percent in the week.